CorMedix (NASDAQ:CRMD) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

CorMedix (NASDAQ:CRMD) announced its quarterly earnings results on Thursday. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.07), FiscalAI reports. CorMedix had a net margin of 40.49% and a return on equity of 40.52%. The firm had revenue of $54.52 million for the quarter, compared to the consensus estimate of $51.76 million.

Here are the key takeaways from CorMedix’s conference call:

• CorMedix agreed to acquire substantially all of Heron Therapeutics’ assets, which management expects to add approximately $125 million–$150 million in 2027 revenue and generate $45 million–$60 million in annualized cost synergies by the end of 2027. The deal is expected to be immediately accretive to earnings and free cash flow, subject to closing conditions.
• DefenCath utilization at large dialysis customers largely held steady after the post-TDAPA reimbursement change, and management expects the 2027 add-on payment to remain above the current $2.37 rate. However, the quarterly payment framework and unresolved customer pricing and Medicare Advantage arrangements leave the company unable to provide 2027 DefenCath guidance yet.
• Third-quarter revenue was $54.5 million and adjusted EBITDA was $3.1 million; DefenCath sales were $17.2 million, including a $5 million favorable adjustment to sales allowances. CorMedix maintained its 2026 revenue outlook at $325 million–$345 million and narrowed adjusted EBITDA guidance to $130 million–$140 million, while ending the quarter with $355.2 million in cash.
• The FDA accepted REZZAYO’s supplemental application for prophylaxis with priority review and a target decision in the first quarter of 2027. CorMedix is preparing for a potential launch in the second half of 2027 if approved.
• Enrollment in the phase III TPN study for DefenCath remains meaningfully behind schedule despite added sites and a protocol amendment. Management is evaluating alternative FDA pathways and expects to decide on the study strategy before its next quarterly update.

CorMedix Stock Performance

CRMD stock traded down $0.42 during midday trading on Thursday, reaching $4.88. 2,287,805 shares of the company’s stock traded hands, compared to its average volume of 1,613,383. The company has a current ratio of 2.56, a quick ratio of 2.36 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average is $7.33 and its 200 day moving average is $7.60. The stock has a market cap of $380.37 million, a P/E ratio of 2.28, a PEG ratio of 1.00 and a beta of 1.48. CorMedix has a 52-week low of $4.84 and a 52-week high of $13.02.

Analyst Upgrades and Downgrades

CRMD has been the topic of several recent analyst reports. Citigroup reiterated a “market outperform” rating on shares of CorMedix in a research note on Tuesday. Oppenheimer began coverage on CorMedix in a research note on Wednesday, September 23rd. They issued an “outperform” rating and a $15.00 price target for the company. Weiss Ratings downgraded CorMedix from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday. Royal Bank Of Canada increased their price objective on CorMedix from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, UBS Group set a $19.00 price objective on CorMedix in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.44.

CorMedix Company Profile

CorMedix Inc. is a biopharmaceutical company focused on products for infectious and inflammatory diseases. Its lead product, DefenCath, is an antimicrobial catheter-lock solution containing taurolidine and heparin. The U.S. Food and Drug Administration approved it to reduce catheter-related bloodstream infections in adults with kidney failure who receive chronic hemodialysis through a central venous catheter. CorMedix expanded its business in 2024 by acquiring Melinta Therapeutics, adding marketed antibiotics to its portfolio.